Author: NBTC
Over the past 35 days, the total value locked in decentralized finance (defi) protocols has expanded by $11.89 billion, recovering from a low of just over $83 billion on April 13. Although it has not yet reached the $100 billion mark, the value locked in defi is approaching that milestone after hovering just below it. Defi Protocols See $11.89B Boost As of May 18, 2024, the total value locked (TVL) in defi stands at $94.93 billion, according to stats from defillama.com. This is an increase of $11.89 billion from the $83.04 billion low recorded 35 days prior. Among the top…
Investment asset management firm Franklin Templeton published a report detailing Solana’s (SOL) accelerated adoption over some time. With the validation from the firm, Solana has jumped by more than 9% to $138.46. Solana’s survival and resilience after the unfortunate implosion of the FTX cryptocurrency exchange were identified. The cryptocurrency suffered a huge blow in 2022 but has since demonstrated laudable resilience. Franklin Templeton pointed to the fact that Solana has successfully captured a significant portion of cryptocurrency activity from 2023 to 2024. Considering all the challenges Solana has faced, including the multiple network congestions it faced in March 2024, Franklin…
A developer of the anonymizing tool Tornado Cash, Alexey Pertsev, was sentenced to spend 64 months in prison. Many members of the crypto community say the decision is outlandish. ‘S-HERTOGENBOSCH, Netherlands — As 31-year old Russian Alexey Pertsev stood outside the courtroom on Tuesday awaiting a verdict from a judge at the s-Hertogenbosch courthouse in the Netherlands, he looked calm. When the judge ruled the Tornado Cash developer was guilty of money laundering, he did not appear to be outraged. It wasn’t until the Dutch police edged toward him that he seemed surprised he wouldn’t get to say goodbye to…
droppGroup, a trailblazer in the fusion of AI and blockchain technologies, has revealed the debut of droppLink, an ingenious service platform set to redefine artificial intelligence (AI) development and management across various blockchains. The infrastructure of droppLink simplifies computational demands, facilitates micropayments, and democratizes data contributions, granting users ownership and oversight. Stakeholders, termed Computational Resource Patrons (CRPs), underpin infrastructure costs and partake in the revenue yielded by the AI processes they enable. CEO and Co-Founder of droppGroup, Gurps Rai, emphasized, “droppLink ensures unmatched data integrity and streamlines AI development by tokenizing every action in an AI model’s lifecycle on multiple…
Though most mining stocks have so far taken a dive this year, industry watchers expect investors to buy back into the strongest such companies after the Bitcoin halving dust settles. Some of the world’s largest public mining companies have watched their stock prices plummet in recent months. The stock of mining giant Marathon Digital is down roughly 33% so far this year. Shares of rivals Hut 8 and Riot Platforms are slightly worse off over that span, down about 35% and 46%, respectively. Core Scientific’s stock has dropped about 16% since coming out of bankruptcy in January. Las Vegas-based CleanSpark…
IOTA will be among the official strategic partners of the AIM Congress, the Middle East’s largest investment conference, which will be held in Abu Dhabi next week. The tokenisation of real-world assets will take centre stage, with Dominik Schiener expected to present the IOTA Foundation’s Tokenization Framework as an industry leader. The Middle East has become one of the world’s leading investment destinations, with the region diversifying from its traditional oil business into venture capital, emerging tech such as AI and blockchain, and more. On May 7th, global decision-makers will congregate in Abu Dhabi for one of the world’s largest…
Today, Prom has announced that AirDAO is becoming a part of its ecosystem. AirDAO is a community-operated L1 blockchain committed to reshaping the landscape of Web3 through decentralized governance and collective action. Its principal objective is to produce a customer-oriented dream of DeFi. Prom Integrates AirDAO Into the EcosystemWe’re thrilled to see our ecosystem expanding: we welcome @airdao_io, a community-governed L1 blockchain, on board.AirDAO is an ecosystem of Web3 projects shaped by collective wisdom via DAO governance. AirDAO’s mission is to create a… pic.twitter.com/9Vy3LGjywt — Prom (@prom_io) May 17, 2024 Prom and AirDAO Partnership Enhances Web3 Scalability By combining exceptional…
Jamie Dimon has yet more to say about Bitcoin—albeit things he’s known for saying before. In an in-depth interview with Bloomberg on Wednesday, the JP Morgan CEO reiterated his stance that Bitcoin is “a fraud.” “If you mean crypto like Bitcoin, I’ve always said it’s a fraud,” Dimon told Bloomberg’s Emily Chang, adding that there is no hope for it as a currency. He also called Bitcoin a “public decentralized Ponzi scheme,” but conceded that blockchain and smart contracts have value. “If it’s a crypto coin that can do something like a smart contract that has value, there will be…
Hermetica Labs, a decentralized finance protocol built on top of Bitcoin, has launched USDh, the first-ever Bitcoin-native synthetic US dollar. The new offering allows users to gain yields of up to 25% with zero exposure to traditional finance. Introducing USDh 🎉 The first Bitcoin-backed, yield-bearing synthetic dollar. 🔸 Backed by #Bitcoin – not banks 🔸 Earn up to 25% yield 🔸 Native to Bitcoin L1 and L2s Join the revolution now🧵👇 pic.twitter.com/lQCP3hS5Q9 — Hermetica (@HermeticaFi) May 6, 2024 The new synthetic dollar is designed to increase liquidity and utility to the decentralized finance ecosystem formed around Bitcoin through L1 and…
The U.S. Treasury Department wants to continue beefing up anti-money laundering and counter-terrorist financing efforts around digital assets, as part of its broader strategy to tamp down on illicit financing. The department published its 2024 “National Strategy for Combatting Terrorist and Other Illicit Financing” strategy on Thursday, outlining its priorities for taking on illicit financing. Treasury highlighted its ongoing work around crypto, including sanctions against certain exchanges and groups like Bitzlato and Lazarus, its settlement with Binance and its warnings about pig butchering scams. The annual document lays out how Treasury is looking at illicit finance and what role crypto…